Executive Move- State Street Hires Marinella As CIO, Fixed Income

Mark Marinella has joined State Street Research & Management Co. as chief investment officer of fixed income. In this role, Marinella will oversee the firm's fixed income investment management, research, trading and administration. Marinella will lead a team of over 35 portfolio managers, analysts and traders. He will report to Richard S. Davis, president and chief executive officer.

Marinella is an 18-year veteran of the investment management business. He most recently served as CIO and head of fixed income for Columbia Management Group, the investment subsidiary of FleetBoston, where he oversaw a team of 140 investment professionals managing over $80 billion in assets. He joined Columbia Management Group in 2002 to manage the integration of several distinct asset management operations toward building one team with one organizational identity.

State Street Research manages pension money for many of the largest U.S. corporate pension plans and traces several of its institutional client relationships back more than 30 years. State Street Research also manages money for public and union pension plans, foundations and endowments, and mutual funds for over 680,000 shareholder accounts.